Dentons advises on loan for new Antigua cruise passenger pier
Dentons has advised CIBC FirstCaribbean International Bank regarding a multi-currency syndicated loan of around $32.5 million to GPH (Antigua) Ltd., a wholly-owned subsidiary of Global Ports Holding Plc, for the financing of a long-term concession agreement that includes the construction, operation and maintenance of a new passenger cruise pier at the port of St John’s in Antigua.
The new pier, when completed, will be capable of berthing the largest cruise vessels in the industry, and will contribute to growth in cruise tourism and the local economy in Antigua and the wider Caribbean region, Dentons said.
Global Ports Holding is the world’s largest cruise port operator with an established presence in the Caribbean, Mediterranean, and Asia-Pacific regions.
CIBC FirstCaribbean International Bank led the syndicate, comprising three international banks, in its capacity as agent, security trustee and account bank.
Dominic Spacie, consultant in Dentons’ UK energy and infrastructure finance team, led the law firm’s team advising on the transaction, and which included senior associates Tom Guilfoyle and Jamie Mills and associate Thomas Collier in London, and attorney-in-law Kerri-Anne Ellis in Barbados.
Global Ports Holding Plc was advised by Bryan Cave Leighton Paisner.
